Supreme Court Ruling Protects FED Chair from Presidential Dismissal
- Jerome Powell was appointed as FED chairman by Donald Trump in February 2018 and renominated by Joe Biden in 2021.
- The Supreme Court ruled on May 22, 2025, that a US president cannot legally fire a FED chair.
- Powell’s current term as FED chairman is set to end in May 2026.
- President Trump has pressured Powell to cut interest rates, but the FED has maintained its stance due to economic uncertainties.
- Chicago Federal Reserve Bank President Austan Goolsbee suggested a potential rate cut in 2025 if trade tariffs are resolved.
The Supreme Court’s decision emphasizes that the US president lacks the authority to dismiss the FED chair, ensuring Jerome Powell remains until his term concludes in May 2026.
Source (2.6)https://coingape.com/can-donald-trump-fire-fed-chairman/?rand=24432
